Apr 18 2012

Argentina to Nationalize Largest Oil Company

Citing a net deficit of $3 billion in energy imports and a worsening energy shortage Argentina President Cristina Fernandez de Kirchner announced plans on Monday to nationalize the country’s largest oil company. The proposal would give Argentina a 51% share of YPF oil and gas company currently under the control of the Spanish company Repsol. YPF was privatized in the 1990s. The move has angered Repsol and Spanish officials who lashed out, saying Kirchner will make Argentina an “international pariah.” However Argentineans welcomed the news with a celebratory rally held in Buenos Aires. The AP reports Argentineans carried flags and at least one sign reading “Today, with Cristina, we recovered YPF.”

GUEST: Patricia Isasa is a torture survivor from Argentina’s dictatorship years who has played an important role in the quest for justice for other survivors and their families.

One response so far

One Response to “Argentina to Nationalize Largest Oil Company”

  1. RPon 18 Apr 2012 at 12:20 pm

    It’s nice to hear some good news for a change.

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